The index of business activity in the manufacturing sector of Japan below forecast

Commenting on the Japanese Manufacturing PMI survey data, Amy Brownbill, economist at IHS Markit, which compiles the survey, said:

“Manufacturing conditions in Japan continued to improve mid-way through the final quarter of 2016. Output increased for the fourth month running, helped by a boost in new orders. Data suggested that international demand was the key driver behind the expansion in total new sales.

Meanwhile, employment growth eased from October’s 30-month high and was only marginal overall, suggesting manufacturers were less confident towards the outlook. Finally, cost inflation has recorded for the first time since December 2015, linked by firms to greater raw material prices, particularly fuel-related items. “

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